The external sector performance improved in July 2015, year-on-year, with a lower trade deficit and strong tourist earnings.

The Central Bank said yesterday that the increase in the cumulative trade deficit in July was 6%, down from 15.6 % recorded in June this year, due to a sharp deceleration in imports during July 2015.

Export earnings dropped by 2.6% to 932 million US dollars in July 2015, reflecting a year-on-year decline in both industrial and agricultural exports.